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Report Date : |
30.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
MURAKAMI SEKIYU CO LTD |
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Registered Office : |
9496-1 Kinoura Hakatacho Ochigun Imabari
Ehime-Pref 794-2305 |
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Country : |
Japan |
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Financials (as on) : |
31.08.2012 |
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Date of Incorporation : |
January 1970 |
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Legal Form : |
Limited Company |
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Line of Business : |
Operation of gas stations, supply of bunker fuels,
lubricant oils |
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No. of Employees : |
41 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
japan ECONOMIC OVERVIEW
In the years
following World War II, government-industry cooperation, a strong work ethic,
mastery of high technology, and a comparatively small defense allocation (1% of
GDP) helped Japan develop a technologically advanced economy. Two notable
characteristics of the post-war economy were the close interlocking structures
of manufacturers, suppliers, and distributors, known as keiretsu, and the
guarantee of lifetime employment for a substantial portion of the urban labor
force. Both features are now eroding under the dual pressures of global
competition and domestic demographic change. Japan's industrial sector is
heavily dependent on imported raw materials and fuels. A small agricultural
sector is highly subsidized and protected, with crop yields among the highest
in the world. While self-sufficient in rice production, Japan imports about 60%
of its food on a caloric basis. For three decades, overall real economic growth
had been spectacular - a 10% average in the 1960s, a 5% average in the 1970s,
and a 4% average in the 1980s. Growth slowed markedly in the 1990s, averaging
just 1.7%, largely because of the after effects of inefficient investment and
an asset price bubble in the late 1980s that required a protracted period of
time for firms to reduce excess debt, capital, and labor. Modest economic
growth continued after 2000, but the economy has fallen into recession three
times since 2008. A sharp downturn in business investment and global demand for
Japan's exports in late 2008 pushed Japan into recession. Government stimulus
spending helped the economy recover in late 2009 and 2010, but the economy
contracted again in 2011 as the massive 9.0 magnitude earthquake and the ensuing
tsunami in March disrupted manufacturing. The economy has largely recovered in
the two years since the disaster, but reconstruction in the Tohoku region has
been uneven. Newly-elected Prime Minister Shinzo ABE has declared the economy
his government's top priority; he has pledged to reconsider his predecessor's
plan to permanently close nuclear power plants and is pursuing an economic
revitalization agenda of fiscal stimulus and regulatory reform and has said he
will press the Bank of Japan to loosen monetary policy. Measured on a
purchasing power parity (PPP) basis that adjusts for price differences, Japan
in 2012 stood as the fourth-largest economy in the world after second-place
China, which surpassed Japan in 2001, and third-place India, which edged out
Japan in 2012. The new government will continue a longstanding debate on
restructuring the economy and reining in Japan's huge government debt, which
exceeds 200% of GDP. Persistent deflation, reliance on exports to drive growth,
and an aging and shrinking population are other major long-term challenges for
the economy.
|
Source : CIA |
MURAKAMI SEKIYU CO LTD
Murakami Sekiyu KK
9496-1 Kinoura
Hakatacho Ochigun Imabari Ehime-Pref 794-2305 JAPAN
Tel: 0897-72-1221 Fax: 0897-72-2585
E-Mail address: info@murakami.com
Operation
of gas stations, supply of bunker fuels, lubricant oils
At the
caption address, Hakatacho, Matsuyama City, other (Tot 6)
At the caption address (waste-oil refining yard)
HIRONORI
MURAKAMI, PRES Yasushi Murakami, s/mgn
dir
Tomonori
Murakami, dir Anko Murakami,
dir
Takeshi
Murakami, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 16,479 M
PAYMENTSSlow but Correct CAPITAL Yen
87 M
TREND UP WORTH Yen 734 M
STARTED 1970 EMPLOYES 41
GAS STATION OPERATOR.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by Kumakichi Murakami originally as a shipping company in 1890, on his account, and was incorporated in 1970. This is a gas station operator, owned and operated by the Murakami family, operating 6 gasoline stations in Ehime-Pref & vicinities. Also supplies bunker fuels & lubricant oils to ships. Operates waste-oil refining yard at the caption address. Clients include shipping companies, shipbuilders, cement & other mfrs, traders, etc, centering in Ehime-Pref and vicinities. .
The sales volume for Aug/2012 fiscal term amounted to Yen 16,479 million, a 14% up from Yen 14,507 million in the previous term. This is attributed to the ever increasing oil prices. The recurring profit was posted at Yen 61 million and the net profit at Yen 60 million, respectively, compared with Yen 133 million recurring profit and Yen 102 million net profit, respectively, a year ago.
For the current term ending Aug 2013 the recurring profit is projected at Yen 70 million and the net profit at Yen 70 million, respectively, on a 6% rise in turnover, to Yen 17,500 million. Business is seen steadily expanding.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Jan 1970
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
70,000 shares
Issued:
17,500 shares
Sum: Yen 87.5 million
Major shareholders (%): Hironori Murakami (47), Reisawa
Kaiun (31), Masuka Murakami (7), Anko Murakami (5), Tomonori Murakami 2)
No. of shareholders: 10
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Operates 6 gas stations in Ehime-Pref, also supplies bunker fuels & lubricants to ships & offshore facilities, waste-oil refining operation, other (--100%)
Clients: [Mfrs, wholesalers] Nissen Kaiun, Murakami Hide Shipbuilding, Taiheiyo Cement Corp, Hakata Shipbuilding, Hakata Chemical, other
No. of accounts: 100
Domestic areas of activities: Centered in Ehime-Pref and vicinities
Suppliers: [Mfrs, wholesalers] JX Nippon Oil & Mining Corp, Bridgestone Tire Japan, other
Payment record: Slow but Correct
Location:
Business area in Imabari, Ehime-Pref.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank References:
Iyo
Bank (Hakata)
Mizuho
Bank (Imabari)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/08/2013 |
31/08/2012 |
31/08/2011 |
31/08/2010 |
|
|
Annual
Sales |
|
17,500 |
16,479 |
14,507 |
13,149 |
|
Recur.
Profit |
|
70 |
61 |
133 |
|
|
Net
Profit |
|
70 |
66 |
102 |
-304 |
|
Total
Assets |
|
|
17,452 |
15,864 |
13,578 |
|
Current
Assets |
|
|
2,119 |
2,210 |
|
|
Current
Liabs |
|
|
883 |
846 |
|
|
Net
Worth |
|
|
734 |
668 |
566 |
|
Capital,
Paid-Up |
|
|
87 |
87 |
87 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
6.20 |
13.59 |
10.33 |
5.30 |
|
|
Current Ratio |
|
.. |
239.98 |
261.23 |
.. |
|
N.Worth Ratio |
.. |
4.21 |
4.21 |
4.17 |
|
|
R.Profit/Sales |
|
0.40 |
0.37 |
0.92 |
.. |
|
N.Profit/Sales |
0.40 |
0.40 |
0.70 |
-2.31 |
|
|
Return On Equity |
.. |
8.99 |
15.27 |
-53.71 |
|
Notes:
Forecast (or estimated) figures for the 31/08/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.27 |
|
UK Pound |
1 |
Rs.84.23 |
|
Euro |
1 |
Rs.70.90 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.